Crypto Technicals: ETH/EUR trades directionless, break below strong support at 21-EMA (257) could see weakness

ETH/EUR chart - Trading View

Exchange - Coinbase

Support: 257.16 (21-EMA); Resistance: 209.74

Technical Analysis: Bias Neutral

ETH/EUR was trading at 262.80 at 09:27 GMT, intraday bias remains neutral to slightly bullish.

The pair has bounced off from weekly lows at 238.82 with a 'Hammer' formation.

Price action is currently holding support at 21-EMA at 257. Break below could see further weakness.

GMMA on the daily charts shows shift in near-term trend to bullish. Short-term moving averages are above the long-term moving averages.

Price action is above cloud and major moving averages. Scope for upside.

Stochs and RSI are biased lower. Bearish divergence on RSI and Stochs keeps scope for downside.

Break below 21-EMA will see test of 55-EMA at 231.69. Upside resumption can see test of upper bollinger band at 290.65.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.